On Friday, April 29, 2016, Tauber Oil Company signed an Offtake Agreement with Primus Green Energy for its methanol plant at a manufacturing site in the Marcellus shale region. The plant is expected to produce 160 MT of methanol per day beginning in the fourth quarter of 2017.
Primus Green Energy is a gas-to-liquids (GTL) technology and solutions company that transforms methane and other hydrocarbon gases into gasoline, methanol and diluent.
Tauber will offtake all methanol produced by the plant – utilizing low-cost Marcellus gas feedstock – to market, sell and distribute into the regional market. The Primus standardized modular system allows for local production, thus saving its customers in the region on both production and transportation costs. As a result, the systems are cost-competitive with the world-class methanol plants located on the Gulf Coast of the United States and in international markets. In addition, Interconn Resources, a subsidiary of Tauber Oil Company, will be responsible for the supply of natural gas for the Primus facility.
Richard Tauber, Sam Golan (CEO of Primus Green Energy), and David Tauber, Sr. are present at the signing.